Secondary Market

The Hollywood Hills abode that Ashton Kutcher once called home has hit the market for $2.585 million. According to Zillow, the craftsman contemporary-style house served as the actor├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós bachelor pad prior to his marriage to Demi Moore, and Kutcher reportedly sold the home in June 2011 for $2.35 million.

Genworth Financial subsidiary, Genworth Financial Wealth Management (GFWM), is welcoming a new member to its senior leadership team. The company recently announced the hiring of James Hanna as GFWM's chief technology officer.

According to a recent study from FICO, U.S. banks expect an end to the household deleveraging trend observed among consumers during the past five years. The company's latest quarterly survey revealed that bankers are anticipating an uptick in customers' demand for credit. Additionally, results showed that the majority of respondents "believe the supply of financing for auto loans, credit cards, new mortgages, small business loans, student loans, and mortgage refinancing will meet or exceed consumer demand over the next six months."

Alleging that the financial institution misrepresented the quality of $1.02 billion in mortgage-backed securities (MBS) dating from 2006 and 2007, MBIA Insurance Corporation has filed suit against Flagstar Bancorp, Inc. The assets in question were insured by MBIA, resulting in a $165 million loss for the company, according to a complaint filed in a U.S. District Court in the Southern District of New York. "To induce MBIA to guaranty payments due on certain securities, Flagstar made extensive warranties . . . . Flagstar's warranties were false," stated MBIA.

Redfin studied 48 emerging neighborhoods located within 16 major metro areas to determine which neighborhoods showed the most promise this year.

S&P Dow Jones Indices, the largest provider of financial market indices in the world, announced the launch of the Dow Jones U.S. Select Equal Weight Real Estate Investment Trust (REIT) Index. The new index is designed to measure the performance of publicly traded REITs and REIT-like securities, serving as a proxy for direct real estate investment.

The National Association of Mortgage Brokers (NAMB) is calling on the Small Business Administration to review the Consumer Financial Protection Bureau's (CFPB) new rule on qualified mortgages, saying the provisions might drive out smaller lenders.

Despite recent turmoil for the financial services and mortgage banking industries, CoreLogic declared 2012 a pleasant economic surprise.

Potomac Mortgage Group, Inc. (PMG), one of the leading direct lenders in the Washington, D.C. area, announced the hiring of Sarah Pichardo as VP. Pichardo started her career in 2003, working quickly to establish herself as a top producer.

The FDIC announced that the Washington State Department of Financial Institutions shuttered Westside Community Bank on Friday. The bank's two branches are reopening as branches of Irvine, California's Sunwest Bank.